Leaders wrestle with austerity as EU jobless fears rise | Bangkok Post: news

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Leaders wrestle with austerity as EU jobless fears rise

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European Union leaders wrestled with German demands for strict austerity and a French-Italian push for growth-friendly spending at a summit coloured by fears that rampant unemployment is destroying the bloc, and clouded by a bailout for Cyprus. 

French President Francois Hollande attends a press conference at the EU Headquarters on March 14, 2013 in Brussels. European Union leaders wrestled with German demands for strict austerity and a French-Italian push for growth-friendly spending at a summit coloured by fears that rampant unemployment is destroying the bloc, and clouded by a bailout for Cyprus.

As thousands protested over European jobless lines stretching to 26 million, outgoing Italian premier Mario Monti o0n Thursday urged his peers to allow Italy, and other countries facing public finance pressures, to spend in order to create more jobs.

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